Market Overview:
The global home medical equipment market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of chronic diseases, rising geriatric population, and technological advancements in home medical equipment. The home respiratory therapy equipment segment is expected to account for the largest share of the global home medical equipment market in 2018. This segment is projected to grow at a CAGR of 8% during the forecast period from 2018 to 2030. The patient monitoring equipment segment is projected to grow at a CAGR of 7% during the forecast period from 2018to 2030.
Product Definition:
Home medical equipment is any type of equipment that can be used in the home to help a person with a disability or illness. This includes things like wheelchairs, crutches, and oxygen tanks. Home medical equipment is important because it allows people to stay in their homes instead of having to go to the hospital or clinic for treatment.
Home Respiratory Therapy Equipment:
Home respiratory therapy equipment is used to treat respiratory disorders such as asthma, COPD, and pulmonary fibrosis. It helps in maintaining the normal function of lungs by providing oxygen to the patient. Home respiratory therapy equipment market is expected to grow at a significant rate owing to increasing demand for home healthcare services and rising prevalence of chronic diseases like Chronic Obstructive Pulmonary Disease (COPD) & asthma.
Patient Monitoring Equipment:
Patient monitoring equipment is used in home medical equipment market for the purpose of providing continuous patient monitoring. It consists of a set of devices and components that are used to record, store, display and transfer data pertaining to the vital signs or other parameters about a patient. The most commonly used parameters are temperature, blood pressure, respiratory rate and oxygen level among others.
Application Insights:
The diagnostics and monitoring segment dominated the global home medical equipment market in 2017. This can be attributed to an increase in the prevalence of chronic diseases, which require regular monitoring to detect any change or develop any new disease symptoms. For instance, according to a study published by NCBI in 2018, around 54 million people have diabetes mellitus worldwide and this number is expected to reach 79 million by 2050. Thus, a large patient base with various requirements regarding health monitoring is anticipated to fuel segment growth during the forecast period.
Therapeutics segment is expected register significant growth over the forecast period owing to increasing geriatric population base that suffers from various ailments due largely age-related physiological changes as well as because of underlying diseases & conditions such as cancer & heart disorders that require medical treatment at home for better cure outcomes at reduced costs compared with hospital treatments.
Regional Analysis:
North America dominated the global home medical equipment market in 2016. The presence of favorable government initiatives, high healthcare expenditure, and technological advancements are some of the major factors responsible for its large share. In addition, increasing demand for patient-centric services is expected to drive this market over the forecast period.
Asia Pacific is anticipated to witness lucrative growth during the forecast period owing to improving healthcare infrastructure and rising awareness about advanced therapies in emerging countries such as China and India. Moreover, an increase in chronic diseases coupled with a rise in geriatric population will boost product demand over the next eight years. ‘’The Home Oxygen Company Ltd., London; ‘Home Oxygen Equipment Co., Ltd., Tokyo; ‘Hospira Inc.
Growth Factors:
- Increasing geriatric population: The global geriatric population is expected to grow at a CAGR of 6.5% from 2016 to 2020, owing to the increase in life expectancy and the growth in the number of people aged 65 years and above. This will result in an increase in demand for home medical equipment, as this population is more susceptible to chronic diseases that require regular monitoring and treatment.
- Rising incidence of chronic diseases: The prevalence of chronic diseases such as cancer, heart disease, stroke, diabetes, and respiratory disorders is increasing globally due to changing lifestyles and environmental factors. This is leading to an increased demand for home medical equipment as these devices can help patients manage their conditions effectively at home.
- Technological advancements: Home medical equipment manufacturers are constantly innovating their products with new features and technologies that make them easier to use and provide better patient outcomes. For instance, portable oxygen concentrators are now available that do not require refilling or replacement parts for up to two years, which has led to an increase in their adoption rates among patients with respiratory disorders .
Scope Of The Report
Report Attributes
Report Details
Report Title
Home Medical Equipment Market Research Report
By Type
Home Respiratory Therapy Equipment, Patient Monitoring Equipment, Mobility Assist & Patient Support Equipment, Others
By Application
Diagnostics and Monitoring, Therapeutics, Care and Rehabilitation, Others
By Companies
Johnson and Johnson, Medtronic, Arkray, Abbott Laboratories, Omron, Roche, Panasonic, B Braun, Baxter, Becton, Dickinson, Johnson and Johnson, General Electric, Smith & Nephew, Microlife, Phonak, William Demant, Invacare
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
232
Number of Tables & Figures
163
Customization Available
Yes, the report can be customized as per your need.
Global Home Medical Equipment Market Report Segments:
The global Home Medical Equipment market is segmented on the basis of:
Types
Home Respiratory Therapy Equipment, Patient Monitoring Equipment, Mobility Assist & Patient Support Equipment, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Diagnostics and Monitoring, Therapeutics, Care and Rehabilitation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Johnson and Johnson
- Medtronic
- Arkray
- Abbott Laboratories
- Omron
- Roche
- Panasonic
- B Braun
- Baxter
- Becton, Dickinson
- Johnson and Johnson
- General Electric
- Smith & Nephew
- Microlife
- Phonak
- William Demant
- Invacare
Highlights of The Home Medical Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Home Respiratory Therapy Equipment
- Patient Monitoring Equipment
- Mobility Assist & Patient Support Equipment
- Others
- By Application:
- Diagnostics and Monitoring
- Therapeutics
- Care and Rehabilitation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Home Medical Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Home medical equipment is any piece of medical equipment that can be used in the home. This includes devices such as oxygen tanks, heart monitors, and wheelchairs.
Some of the major players in the home medical equipment market are Johnson and Johnson, Medtronic, Arkray, Abbott Laboratories, Omron, Roche, Panasonic, B Braun, Baxter, Becton, Dickinson, Johnson and Johnson, General Electric, Smith & Nephew, Microlife, Phonak, William Demant, Invacare.
The home medical equipment market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Home Medical Equipment Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Home Medical Equipment Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Home Medical Equipment Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Home Medical Equipment Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Home Medical Equipment Market Size & Forecast, 2018-2028
4.5.1 Home Medical Equipment Market Size and Y-o-Y Growth
4.5.2 Home Medical Equipment Market Absolute $ Opportunity
Chapter 5 Global Home Medical Equipment Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Home Medical Equipment Market Size Forecast by Type
5.2.1 Home Respiratory Therapy Equipment
5.2.2 Patient Monitoring Equipment
5.2.3 Mobility Assist & Patient Support Equipment
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Home Medical Equipment Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Home Medical Equipment Market Size Forecast by Applications
6.2.1 Diagnostics and Monitoring
6.2.2 Therapeutics
6.2.3 Care and Rehabilitation
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Home Medical Equipment Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Home Medical Equipment Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Home Medical Equipment Analysis and Forecast
9.1 Introduction
9.2 North America Home Medical Equipment Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Home Medical Equipment Market Size Forecast by Type
9.6.1 Home Respiratory Therapy Equipment
9.6.2 Patient Monitoring Equipment
9.6.3 Mobility Assist & Patient Support Equipment
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Home Medical Equipment Market Size Forecast by Applications
9.10.1 Diagnostics and Monitoring
9.10.2 Therapeutics
9.10.3 Care and Rehabilitation
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Home Medical Equipment Analysis and Forecast
10.1 Introduction
10.2 Europe Home Medical Equipment Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Home Medical Equipment Market Size Forecast by Type
10.6.1 Home Respiratory Therapy Equipment
10.6.2 Patient Monitoring Equipment
10.6.3 Mobility Assist & Patient Support Equipment
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Home Medical Equipment Market Size Forecast by Applications
10.10.1 Diagnostics and Monitoring
10.10.2 Therapeutics
10.10.3 Care and Rehabilitation
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Home Medical Equipment Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Home Medical Equipment Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Home Medical Equipment Market Size Forecast by Type
11.6.1 Home Respiratory Therapy Equipment
11.6.2 Patient Monitoring Equipment
11.6.3 Mobility Assist & Patient Support Equipment
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Home Medical Equipment Market Size Forecast by Applications
11.10.1 Diagnostics and Monitoring
11.10.2 Therapeutics
11.10.3 Care and Rehabilitation
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Home Medical Equipment Analysis and Forecast
12.1 Introduction
12.2 Latin America Home Medical Equipment Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Home Medical Equipment Market Size Forecast by Type
12.6.1 Home Respiratory Therapy Equipment
12.6.2 Patient Monitoring Equipment
12.6.3 Mobility Assist & Patient Support Equipment
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Home Medical Equipment Market Size Forecast by Applications
12.10.1 Diagnostics and Monitoring
12.10.2 Therapeutics
12.10.3 Care and Rehabilitation
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Home Medical Equipment Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Home Medical Equipment Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Home Medical Equipment Market Size Forecast by Type
13.6.1 Home Respiratory Therapy Equipment
13.6.2 Patient Monitoring Equipment
13.6.3 Mobility Assist & Patient Support Equipment
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Home Medical Equipment Market Size Forecast by Applications
13.10.1 Diagnostics and Monitoring
13.10.2 Therapeutics
13.10.3 Care and Rehabilitation
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Home Medical Equipment Market: Competitive Dashboard
14.2 Global Home Medical Equipment Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Johnson and Johnson
14.3.2 Medtronic
14.3.3 Arkray
14.3.4 Abbott Laboratories
14.3.5 Omron
14.3.6 Roche
14.3.7 Panasonic
14.3.8 B Braun
14.3.9 Baxter
14.3.10 Becton, Dickinson
14.3.11 Johnson and Johnson
14.3.12 General Electric
14.3.13 Smith & Nephew
14.3.14 Microlife
14.3.15 Phonak
14.3.16 William Demant
14.3.17 Invacare
